The film, which Scorsese begins shooting in August in New York, is based on Belfort’s best-selling 2008 memoir.

Reiner -- whose most recent movie role was in 2003's Alex & Emma , which he directed -- would play Max Belfort, the father of DiCaprio's character.

Terence Winter (The Sopranos, Boardwalk Empire) adapted the screenplay, which chronicles Belfort's dramatic rise and fall on Wall Street, along with his hard-partying lifestyle and tumultuous personal life, which included drug and alcohol addiction.